There’s much to unpack in Apollo Investment’s IVQ 2020 conference call transcript.
We annotate Gladstone Capital’s calendar IVQ 2020 conference call transcript, armed with our review of the latest 10-Q.
Nearly thirteen years after investing in a foundry company, Saratoga Investment gets paid out. We briefly review the history of this long held debt and equity investment and its apparent resolution.
Gladstone Investment had two big successes in the IVQ 2020 which boosted its results. However, the BDC Reporter takes a nuanced view after looking through the 10-Q.
Capital Southwest has released its IVQ 2020 10-Q. This has allowed us to begin reviewing its portfolio to identify how underperforming companies are faring. First up on a short list is American Teleconferencing Services, a company with 7 BDC lenders.
The BDC Reporter updates the BDC Credit Table with the latest – though still incomplete – credit performance data from Capital Southwest for the IVQ 2020.
Capital Southwest reports IVQ 2020 results and there’s very little not to love about the quarter’s performance.
Both FS KKR Capital and FS KKR Capital II provide preliminary IVQ 2020 results that are better than guidance and the prior quarter. The BDC Reporter, though, uses the opportunity to look at key metrics over a longer time frame and ask some existential questions.
BlackRock TCP Capital offers a preview of its IVQ 2020 results. The BDC Reporter compares the estimated performance against the trends in the BDC’s earnings, leverage and book value before and after the pandemic.
Sixth Street Specialty Lending raises a large amount of new unsecured debt at a favorable yield. We analyze the impact on both balance sheet and P&L, and compare with another similar issuance by Ares Capital.
We provide an update about an article written hours earlier about the bankruptcy of a WhiteHorse Finance borrower.
BlackRock Capital Investment is offering up a preview of IVQ 2020 developments and some key metrics. The BDC Reporter deciphers the disclosures and speculates as to the way forward for the underperforming BDC.
A satellite operator which is the largest single investment in Great Elm’s portfolio faces financial difficulties and may seek British bankruptcy court protection. We re-publish an article from the BDC Credit Reporter which flags this breaking news.
Stellus Capital is switching its dividend frequency again. We review why the BDC is switching back to a monthly payout and what that tells us about the outlook for future dividends.
Prospect Capital has issued new unsecured debt that will materially impact its balance sheet and earnings. We discuss the details but also place this development in the broader context of what we’re calling the Great Refinancing.
Main Street Capital issues new unsecured debt on very favorable terms. The BDC Reporter looks at the impact on leverage, earnings and the outlook for the BDC both in the short and longer term.
In a follow-up article, we fill in the details about the Stellus Capital unsecured debt raise. The BDC Reporter, though, also shares its thoughts on the BDC’s increasing leverage levels.
Newly independent PhenixFin (previously Medley Capital) announces a share repurchase program. Investors, though, remain the dark about the BDC’s financial standing and intentions.
BDC sector prices began 2021 with a robust increase. We discuss the week’s winners and losers as well as projecting out how the year might play out following the biggest net total loss in the last 10 years, according to the S&P BDC index.
Saratoga Investment is the first BDC to report fourth quarter 2020 results – albeit through November. The BDC Reporter reviews the latest performance and what we might learn more generally about the state of the BDC sector.
